HomeMy WebLinkAbout2013-759-09/16/2013Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2013-759
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH CROSSING POINT, LLC F/K/A PROACTIVE
HOLDINGS IV LLC OF WATERLOO, IOWA AND
DIRECTING EXECUTION OF SAID AGREEMENT BY
MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated September 16, 2013, for the
redevelopment of the former Kmart Plaza site, including the main
building and creation of multiple out -lots, adding $3.5 million
in new taxable value to site, and tax rebates for 10 years at 50
percent, by and between Crossing Point, LLC f/k/a Proactive
Holdings IV LLC of Waterloo, Iowa and the City of Waterloo, Iowa,
be and the same is hereby approved, and the Mayor and City Clerk
authorized to execute the same in behalf of the City of Waterloo,
Iowa.
PASSED AND ADOPTED this 16th day of September, 2013.
Ernest G. lark, Mayor
ATTEST:
uzy Scha es, CMC
City Cler